Citigroup, Barclays, JP Morgan, and RBS have been sentenced in connection with the massive rigging of currency exchange rates that rocked the markets in 2015. Earlier this year, Judge Stefan R. Underhill of the United States District Court for the District of Connecticut approved over $2.5 billion in criminal fines imposed by the Department of Justice, which were part of an overall $5.8 billion settlement between the companies and the regulators. Citigroup led the pack with a $925 million criminal fine, followed by a $650 million fine against Barclays, a $550 million fine against JP Morgan and a $395 million fine against RBS. Judge Underhill noted that he would "encourage the US government to consider prosecution of individuals" in connection with the FX rate rigging, noting that the most effective way to deter illegal anticompetitive behavior is to take action against the people responsible, including by clawing back or requiring disgorgement of incentive compensation that was triggered by the wrongful conduct. Judge Underhill noted that "when the market is rigged, folks who play by the rules are suckers."